Ituran Location and Control Ltd. (US) (ITRN) Downgraded by BidaskClub to “Hold”

BidaskClub downgraded shares of Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) from a buy rating to a hold rating in a research report released on Thursday.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Ituran Location and Control Ltd. (US) from a hold rating to a strong-buy rating and set a $39.00 target price for the company in a research note on Friday, November 30th. Jefferies Financial Group reaffirmed a buy rating and issued a $41.00 target price on shares of Ituran Location and Control Ltd. (US) in a research note on Tuesday, December 4th.

NASDAQ ITRN traded down $0.59 during trading hours on Thursday, hitting $33.02. The company’s stock had a trading volume of 35,200 shares, compared to its average volume of 48,337. Ituran Location and Control Ltd. has a twelve month low of $29.25 and a twelve month high of $36.72. The firm has a market capitalization of $715.58 million, a P/E ratio of 15.91, a P/E/G ratio of 0.69 and a beta of 0.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.73 and a quick ratio of 1.42.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last announced its quarterly earnings data on Monday, November 26th. The industrial products company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.14. Ituran Location and Control Ltd. (US) had a net margin of 25.13% and a return on equity of 32.17%. The business had revenue of $53.38 million for the quarter, compared to analyst estimates of $57.06 million. Sell-side analysts expect that Ituran Location and Control Ltd. will post 2.4 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 9th. Shareholders of record on Wednesday, December 26th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.79%. The ex-dividend date was Monday, December 24th. Ituran Location and Control Ltd. (US)’s payout ratio is presently 44.02%.

A number of large investors have recently modified their holdings of ITRN. Russell Investments Group Ltd. bought a new stake in Ituran Location and Control Ltd. (US) in the second quarter valued at approximately $108,000. FMR LLC increased its stake in Ituran Location and Control Ltd. (US) by 11.9% in the second quarter. FMR LLC now owns 1,987,713 shares of the industrial products company’s stock valued at $60,327,000 after purchasing an additional 211,975 shares in the last quarter. Citadel Advisors LLC increased its stake in Ituran Location and Control Ltd. (US) by 31.0% in the second quarter. Citadel Advisors LLC now owns 31,522 shares of the industrial products company’s stock valued at $957,000 after purchasing an additional 7,458 shares in the last quarter. Renaissance Technologies LLC increased its stake in Ituran Location and Control Ltd. (US) by 6.3% in the second quarter. Renaissance Technologies LLC now owns 1,339,600 shares of the industrial products company’s stock valued at $40,657,000 after purchasing an additional 79,200 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of Ituran Location and Control Ltd. (US) by 22.4% during the second quarter. Raymond James & Associates now owns 19,507 shares of the industrial products company’s stock worth $592,000 after acquiring an additional 3,565 shares in the last quarter. 57.99% of the stock is owned by hedge funds and other institutional investors.

About Ituran Location and Control Ltd. (US)

Ituran Location and Control Ltd., together with its subsidiaries, provides location-based services and wireless communications products in Israel, Brazil, Argentina, and the United States. The company's Location-Based Services segment provides stolen vehicle recovery and tracking services, which locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and personal locator services that allow customers to protect valuable merchandise and equipment.

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